Kathmandu Finance to auction 2, 48,545 units promoter shares at Rs 100 & above; LTP stood Rs. 163

Kathmandu Finance Limited (KFL) is auctioning its promoter right shares to general public from today (Poush 20, 2072). According to a notice published by the finance today, it will be selling 2,48,545 units promoter right shares after the rights shares issued on Kartik 15 were not fully subscribed by the investors. It had offered 1:1 ratio right shares. The auction starts from today and will last till Poush 27. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. The bank has urged the interested bidders to submit their bids by 3:00 PM till Poush 27 at the NIBL Capital Markets Limited located at Lazimpat, Kathmandu or also submit their bids in the head office of Kathmandu Finance located in Dillibazar, Kathmandu NIBL Capital Markets limited is the issue manager for this auction. The investors applying for the auction can deposit the bid amount in the account name NIBL Capital Markets Limited and account number 00102040250658 of the Nepal Investment Bank Limited. Kathmandu Finance had earned net profit of Rs. 28.79 lakh in its first quarter of the fiscal year 2072/73. The last trading price of KFL stood at Rs 163on April 16, 2015. The trading of KFL has been halted due to ongoing merger process with Gurkha Development Bank Ltd.